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Price Signal Summary - First Support In S&P E-Minis Lies At 3704.25

OUTLOOK
  • In the equity space, S&P E-Minis continue to trade above last week’s low of 3704.25 (Nov 3). A break of this level would expose the key short-term support at 3641.50, the Oct 21 low, where a breach would signal scope for an extension lower. For bulls, a stronger reversal higher and more importantly, a breach of 3928.00, the Nov 1 high, is required to confirm a resumption of the recent bull theme. This would open 3981.25, the Sep 14 high.
  • A bullish EUROSTOXX 50 futures theme remains intact and the contract traded higher once again Tuesday, confirming an extension of the bull cycle that started Oct 3. This has paved the way for a move towards the next key resistance at 3810.00, Aug 17 high. Firm support is seen at the 50-day EMA. The average intersects at 3534.30.
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Foreign Exchange Technical AnalysisHomepagemarkets-real-timeCommoditiesEquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets

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